My Secret Indicator: You Will Never Trade The Same Way Again!
Added 2025-07-09 01:53:58 +0000 UTC
Comments
If your using thinkorswim, I posted a script for it two day ago in the comments on Maverick's My Secret Indicator: You Will Never Trade The Same Way Again! video. hope that helps.
Fog Horn
2025-08-11 04:58:02 +0000 UTC
IV Rank script for thinkorswim IVRank_v6
declare lower;
input price = close;
input length = 21;
Assert(length > 0, "'length' must be positive: " + length);
#Calculate daily return
def dailyReturn = (price - price[1]) / ((price + price[1]) / 2);
#Calculate historical volatility
def histVolatility = StDev(dailyReturn, length);
#Calculate iv_rank (assuming you want to normalize histVolatility)
def iv_rank = 100 * (histVolatility - Lowest(histVolatility, length)) / (Highest(histVolatility, length) - Lowest(histVolatility, length));
#Plot IV Rank
plot ivRankLine = iv_rank;
ivRankLine.SetDefaultColor(CreateColor(255,102,0));
ivRankLine.SetLineWeight(2);
ivRankLine.SetStyle(Curve.Firm);
#Reference lines
plot Overbought = 80;
Overbought.SetDefaultColor(Color.RED);
Overbought.SetLineWeight(1);
Overbought.SetStyle(Curve.FIRM);
plot Oversold = 20;
Oversold.SetDefaultColor(Color.GREEN);
Oversold.SetLineWeight(1);
Oversold.SetStyle(Curve.FIRM);
plot IVRankMiddle = 50;
IVRankMiddle.SetDefaultColor(Color.WHITE);
IVRankMiddle.SetLineWeight(1);
IVRankMiddle.SetStyle(Curve.FIRM);
#Clouds: compare iv_rank to levels
#Use `Double` type explicitly for clarity and to avoid type mismatch
def cloud_upper = if iv_rank > 80 then iv_rank else 80;
def cloud_lower = if iv_rank < 20 then iv_rank else 20;
#Add clouds
AddCloud(cloud_upper, 80, Color.LIGHT_RED, Color.LIGHT_RED);
AddCloud(cloud_lower, 20, Color.LIGHT_GREEN, Color.LIGHT_GREEN);
Fog Horn
2025-08-08 18:22:53 +0000 UTC
Im still trying to see if there is some way to get a screener that will detect high IVR and RSI for tickers